THEORIES OF THE STATE: THE CASE OF LAND REFORM IN ITALY, 1944–1961

This article examines the case of land reform in Italy from 1944 to 1961 in relation to the role of the State in capitalism. Through an analysis of recent debate on the capitalist State, it offers an investigation of the generation and outcomes of the process of land reform. It is important to note that the social pressure exerted by landless peasants and farm workers for the redistribution of land and the dissolution of the dominant social bloc generated the conditions for a land reform that only partially satisfied the needs of the agricultural working class. Simultaneously, the mediation of the State enhanced the overall interests of the domestic bourgeoisie. In this context, land reform produced contradictory results that favored the processes of accumulation of capital and legitimation of social dissent.     

THE TRANSFORMATION AND SURVIVAL OF FORTUNE 500 INDUSTRIAL CORPORATIONS THROUGH MERGERS AND ACQUISITIONS, 1981–1995

The 1980s leveraged buyouts followed by the 1990s stock swap mergers represent the most dynamic period in U.S. business history. Using Cox regression with time-varying covariates, we examine the relationships among changes in corporate mergers and acquisitions, changes in corporate diversification strategies, and the transition from the multidivisional form (MDF) to the multisubsidiary form (MSF) of the largest Fortune 500 U.S. parent corporations. Consistent with the political economy contingency theory of accumulation (PECTA), our findings show that acquisition risk is reduced as a function of size, product and industry diversification, and percentages of shares held by institutional investors. Acquisition risk is increased by holding units in a multidivisional rather than a multisubsidiary form, higher returns to shareholders, higher divestitures, higher production to administrative imensity, and surviving previous takeover attempts. The political-legal institutions of the state have increasingly engaged in activities that are supportive and profitable for industrial and financial corporations. The actions of the state are increasingly aligned with the interests of capital.     

MONEY, INCOME, AND PRICES IN THE UNITED KINGDOM: 1870–1913

This paper examines certain aspects of the operation of the gold standard and its effects on the United Kingdom in the period before World War I. Reduced-form tests and estimates of output and money-demand equations are presented. The major conclusions are (1) Prices and interest rates in the United Kingdom can be represented as being determined independently of the money stock and output in the United Kingdom; and (2) Evidence concerning Lucas's version of the natural-rate hypothesis indicates various inadequacies.     

AN ACCOUNT OF IMMIGRATION STUDIES IN THE UNITED STATES AND CANADA, 1990–2004

The growth and proliferation of sociological immigration research has garnered sufficient attention to warrant a review and evaluation of the development of the field. This study took the first step by collecting detailed information about work published in the area of immigration research from major journals between 1990 and 2004. We explored three major areas: research topics addressed, theoretical frameworks employed, and population groups studied in the published literature. We compared the development of the field in the United States and Canada. The studies reveal several important patterns in the sociological publications of the United States and Canada. First, the topics studied and population groups included in the sociological publications on immigration are closely associated with the demographic and immigrant integration context of the country. Second, the publications as a whole show that in the development of immigration literature, researchers in the field are engaging in the general sociological theoretical discussion.     

DEMAND AND SUPPLY OF HOUSING IN THE U.S.: 1929–1978

Annual data for the period 1929–1978 are used to estimate a complete model of demand and supply of housing services and consumption goods in the U.S. by maximum likelihood methods. The demand functions are derived by maximizing a utility function characterized by weak inter-temporal separability. Utility in each period is assumed to be of a generalized CES type with housing services and consumption goods as arguments. The estimating demand relation is transformed into a relatively simple form by focusing on the relative demand of housing to consumption goods. It is found that the intra-temporal elasticity of substitution between housing and consumption goods is unitary. The maximum likelihood estimates of the other parameters of the elementary utility function are also presented. Finally, it is noted that by estimating the structure of individual preferences a basis is established for the calculation of long-run efficiency gains of a change in the tax treatment of housing.     

PUNISHMENT AND SOCIAL STRUCTURE REVISITED: UNEMPLOYMENT AND IMPRISONMENT IN THE UNITED STATES, 1948–1984

Several recent empirical studies of imprisonment trends in the United States and Western Europe confirm Rusche and Kirchheimer's thesis that unemployment affects imprisonment directly with crime held constant. This empirical confirmation, however, remains suspect because these studies fail to address alternative explanations adequately. This article examines these alternatives more thoroughly and considers a limitation on the scope of the thesis. In particular, because the thesis concerns competitive labor markets of industrial capitalism, we reason that unemployment plays less of a role in the dynamics of imprisonment where the labor market is less freely competitive. The analysis of post-World War II trends reveals robust results for the Rusche-Kirchheimer thesis and limited empirical support for differences in labor markets.     

THE RISE OF THE POPULAR INVESTOR: Financial Knowledge and Investing in England and France, 1840–1880

This article examines the knowledge frame in which financial investing became a popular, socially legitimate, and desirable activity in England and France in the nineteenth century. The empirical basis underlying the arguments of the article is provided by investor manuals, newspaper reports, advice brochures, stock price lists, financial charts, and novels from the period. The analysis focuses on the instruments and processes making possible a financial knowledge that could be legitimately acquired and utilized by separate, unrelated, individual actors dispersed over the territory. The core argument is that this knowledge should be understood as an integrative social practice—that is, as a nexus of legitimating discourses, rules, skills, and cognitive instruments that transformed financial investing into a socially desirable activity. At the same time, they generated forms of financial knowledge that were no longer embedded in local conditions, but could be transported across various contexts. The dominant modes of evaluating financial securities include the new instruments of balance sheet analysis, problem solving, and charts. In this integrative nexus of discourses and cognitive instruments, financial activities became first and foremost an object of knowledge. The investor's social and personal responsibilities became dependent upon his financial knowledge. This stance, together with the social desirability of financial investing and with the cognitive instruments provided to individual, dispersed actors, constitutes the ground for the expansion of financial investing. Where does he come from? Shares. Where is he going to? Shares. What are his tastes? Shares. Charles Dickens, Our Mutual Friend     

THE ROLE OF LEADERSHIP AND STRATEGY IN NAVIGATING POLITICAL INCORPORATION: Defining a Niche for Human Relations in Orange County, California, 1971–2000

Political incorporation represents an important and complex trajectory for social movements. Whether that trajectory leads to favorable substantive outcomes or merely to formalistic representation within the polity depends in part on the strategic decisions made by leaders. We have few frameworks, however, for understanding their role in navigating incorporation. This research presents a "niche definition" framework emphasizing strategic differentiation and articulation across political actors in distinct institutional locations sharing common goals. It focuses attention on leaders' efforts to identify and exploit unique resources and leverage made available through incorporation. Overall, the framework emphasizes the potential for collective strategy and cooperative interorganizational dynamics, thereby expanding possibilities for favorable outcomes of political incorporation. The framework is illustrated through a case study of the Orange County (California) Human Relations Commission from its creation in 1971 to 2001. I trace the long-term challenges and consequences of incorporation through leaders' definition of successive niches.     

STRUCTURAL INTEGRATION AND THE TREES: An Analysis of Deforestation in Less-Developed Countries, 1990–2005

This study tests a hypothesis derived from an expanded theory of foreign investment dependence. The tested hypothesis states that less-developed countries with higher levels of primary sector foreign investment exhibit greater rates of deforestation. Findings for cross-national analyses of deforestation from 1990 to 2005 for 40 less-developed countries confirm the hypothesis, providing support for the proposed theorization. Additional results indicate that the presence of environmental international nongovernmental organizations is beneficial for natural forest areas, while population growth is a key driver of deforestation in less-developed countries. Besides confirming the hypothesis, this research underscores the importance for sociologists to consider both political–economic forms of integration and human-ecological factors when investigating how humans impact the environment.     

THE LONG RUN BEHAVIOR OF THE INCOME VELOCITY OF MONEY IN FIVE ADVANCED COUNTRIES, 1870–1975: AN INSTITUTIONAL APPROACH

The income velocity of money in Canada, the United States, Great Britain, Norway and Sweden displays a U-shaped pattern over the last one hundred years. This paper presents and tests empirically an explanation for this secular pattern emphasizing the influence on velocity of institutional changes. The inclusion into a simple velocity function of institutional developments such as the process of monetization, the spread of commercial banking, financial development and the growth of economic stability improves the explanation of long-run movements in velocity provided by a regression of velocity on real permanent income per head and the interest rate.     

THE ECONOMIC ROOTS OF THE AMERICAN “ZIGZAG”: KNIVES,FORKS, AND BRITISH MERCANTILISM

Relative prices that prevail at critical times can shape culture in precise ways. Building on the work of the renowned archeologist James Deetz, this essay argues that the difference between Europeans’ and Americans’ use of knives and forks at the dinner table is an artifact of British mercantilism, which inflated the price of tableware in the American colonies and preserved the table fork as a colonial luxury long after it was an ordinary utensil in England. Pressures of conformity at the table have locked in these manners, which persist as an enduring effect of the British Navigation Acts. (JEL A10, D02, F13, N00)     

PERSONAL AUTHORITY IN FAMILY EXPERIENCE VIA TERMINATION OF THE INTERGENERATIONAL HIERARCHICAL BOUNDARY: PART III—PERSONAL AUTHORITY DEFINED, AND THE POWER OF PLAY IN THE CHANGE PROCESS

Present transgenerational family therapy theory is analyzed, and it is suggested that individuation is on a continuum with fusion-triangulation (family systems theory), that relational ethics are on a continuum with invisible loyalties (contextual family therapy), and that there is in fact but one continuum, so that these terms are well-nigh interchangeable. Individuation-relational ethics is presented in a (Hegelian) dialectic with intimacy; and personal authority in family experience is offered as the synthesizing construct in this dialectic. The change process in transgenerational family therapy is briefly noted. It is suggested that playfulness, including paradox and absurdity, is an effective intervention into the intense emotionality of inter generational work. A framework for and sequence of playful interventions are described.     

OUR NEW MONETARY STANDARD: THE MEASUREMENT AND EFFECTS OF PRICE UNCERTAINTY, 1880–1973*

U. S. annual inflation rates over the last century are analyzed in an attempt to compare price unpredictability in the recent period with that during the 1880–1915 gold standard period. The movement from negative price change autocorrelations in the earlier period to strongly positive price change autocorrelations in the recent period, is shown to imply an upward shift in the amount of long-term relative to short-term price uncertainty. Empirical evidence on the relationship between the demand for money and actual price change, on the adjustment of interest rates to price changes and on the change in the composition of new corporate debt issues is presented. Evidence suggests that only over the last decade has the public generally recognized the fundamental change from a commodity to a fiduciary standard that has occurred in the underlying monetary framework.